Global MRAM market is expected to reach 134093 K USD by the end of 2022

Global MRAM market is expected to reach 134093 K USD by the end of 2022 QYRESEARCH FOCUS ON MARKET SURVEY AND RESEARCH

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The global revenue of MRAM market was valued at 42150 K USD in 2016 and is expected to reach 134093 K USD in 2022. In the future five years, we predict the CAGR of global revenue is 21.27%., according to a new study by QYResearch Nonvolatile memories, such as MRAM and Resistive random Access Memory (RRAM/ReRAM), are expected to replace the existing volatile memories such as Dynamic Random Access Memory (DRAM) and Static Random-Access Memory (static RAM or SRAM). The replacement would be possible due to different benefits offered by the advance nonvolatile memories. The existing flash memories are facing technological limits; and their further advancements are expected to increase their costs, thus, leading to the invention of non-volatile memories that are capable of avoiding data loss on power discharge. The major player of the MRAM mainly including Everspin Technologies Inc., Honeywell International Inc., NVE Corporation and Avalanche Technology Inc.. www.qyresearch.com

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The standalone markets, such as wearables, embedded Multipoint Control Unit (MCU)s, Enterprise Storage, and storage class memories for enterprise storage, are expected to offer immense opportunities to the market.

The first generation MRAM and second generation SpinTransfer Torque MRAM (STT-MRAM) are expected to replace traditional DRAMs and SRAMs. Initially, the prices associated with these memories are expected to be high, which would reduce with the increasing rates of developments.

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QYResearch Moreover, the increasing demand of these memories is predicted to promote the demand for equipment, used in their manufacturing. The manufacturing of these memories require specialized fabrication equipment, similar to those used in magnetic read sensors. Thus, promoting the growth of capital equipment required for manufacturing of non-volatile memories equipment.

The market may face challenges due to its complex structure and high costs of manufacturing of memories. However, these challenges can be circumvented by technological advancements and increased production.

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